ACWA Power restructures debt and ownership in Turkish affiliate 

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RIYADH: Saudi energy giant ACWA Power has restructured debt and ownership at its Turkish subsidiary and converted outstanding loans into equity following an agreement with the main lenders and minority shareholders. ACWA Guc, which operates the 950-megawatt combined-cycle gas-fired power plant in Kirikkale, Turkey, is partially and indirectly owned by ACWA Power. The deal will see the lenders convert their loans into shares of ACWA Guc based on specific participation agreements and conversion terms, the Saudi Stock Exchange said in a statement.

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